Although I've not done it, barring huge queues I would have thought so as VCE is a relatively compact (and seemingly well run) airport. If you are going all the way through to landside and checking in again there is a priority security lane on the right hand side of the entrance to security. When I was there last year nobody bothered checking anything on entering this lane but on the assumption that CE would entitle me to use it I went ahead. The queues were minimal anyway, and that was in the middle of the day in peak season.